Abacus Life Announces Public Offering

By Tamara Parker • Friday, November 22 10:19 • Permanent Link

Abacus Life, Inc. (NASDAQ: ABL), a pioneering alternative asset manager specializing in leveraging longevity and actuarial technology, has announced the commencement of an underwritten public offering of 12,500,000 shares of its common stock. This includes 10,000,000 shares of common stock to be sold by the company and 2,500,000 to be sold by certain stockholders of the company.

Abacus intends to use the net proceeds of the primary portion of the offering for its operations, including the purchase of life settlement policies, to support its overall business strategy, for working capital purposes, and for general corporate purposes, which may include funding previously announced and future acquisitions and repayment and refinancing of its indebtedness.

The offering is subject to general market conditions, and there can be no assurances as to whether or when the offering may be completed, or as to the size or terms of the offering. Piper Sandler & Co., TD Securities (USA) LLC, KKR Capital Markets LLC, B. Riley Securities, Inc., and SG Americas Securities, LLC are acting as joint book-running managers and representatives of the underwriters of the proposed offering.

The registration statements on Form S-3 relating to the proposed offering became effective on November 14, 2024. The final terms of the offering will be disclosed in the final prospectus supplements to be filed with the SEC.

Abacus Life, Inc. is a pioneering global alternative asset manager and market maker specializing in uncorrelated financial products, leveraging its longevity data and actuarial technology to purchase life insurance policies from consumers seeking liquidity. With nearly $3 billion in assets under management, including pending acquisitions, Abacus is the only publicly traded global alternative asset manager focused on lifespan-based financial products. As a result of these announcements, the company's shares have moved -11.0% on the market, and are now trading at a price of $7.75. For the full picture, make sure to review Abacus Life's 8-K report.

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